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Friday, December 23, 1949

FEDERAL REGISTER

7683

ceeds the amount due under the loan, the Soybeans in other than approved stor amount of the excess shall be paid to the age will be purchased on delivery at producer by a sight draft drawn on CCC points designated by CCC. When de by the State PMA office.
livery is completed, payment will be If the settlement value of the soybeans made by a sight draft drawn on CCC by is lefcs than the amount due on the loan, the State PMA office on the basis of the amount of the deficiency, plus inter Commodity Purchase Form 4. The pro est, shall be paid by the producer to ducer shall direct on such form to whom CCC, or may be set off against any pay payment of the purchase price shall be ment Which would otherwise be made made.
to the producer under any agricultural Eligible soybeans will be purchased on program administered by the Secretary the basis of the weight, grade, and other of Agriculture, or any other payments quality factors shown on-the warehouse which are due or may become due to the receipts and/or accompanying docu producer from CCC or any other agency ments; or if such soybeans are delivered of the United States. In the event the to a CCC storage facility, on the basis of farm is sold or there is a change of ten the weight, grade, and other quality fac ancy, the soybeans may be delivered be tors, determined by the county com fore the maturity date of the loan, upon mittee in accordance with instructions prior approval by the county committee. for the determination of such factors In the case of warehouse storage loans, under the loan program, and agreed to if the producer does not repay his loan by the producer at the time of delivery.
by maturity, CCC shall have the right to Secs. 4 d, 5 a, Pub. Law 806, 80th sell or pool the soybeans in satisfaction Cong.;
secs. 1 b, 202 a, Pub. Law 897, of the loan in accordance with the provi 80th Cong.
sions of the note and loan agreement and 643.160. Any payment due a producer Issued this 13th day of December 1949.
at the time of settlement on a warehouse seal H arold K. H ill , storage loan, shall be made by the appro Acting Vice President, priate PMA Commodity office.
Commodity Credit Corporation.
Irrespective of the provisions of the Approved:
mortgage supplement, if farm-stored soybeans, when delivered are of a grade R alph 8 . T rigg, and/or quality for which no support rate President, has been established, the settlement Commodity Credit Corporation.
value shall be the support rate established P.
R.
Doc.
49-10370; Piled, Dec. 22, 1949;
for the grade and/or quality of the soy 8:48 a. m.J
beans placed under loan less the differ ence, if any, at the time of delivery, between the market price for the grade t, seal H arold K. H ill , and/or quality placed under loan and t h e / j Acting Vice President, market price of the soybeans delivered, 1949 C/C. C. Hay and Pasture Grass Seed Commodity Credit Corporation.
Bulletin 1, Arndt. 1 to Supplement 1
as determined by CCC.
Approved:
b Purchase agreements. The pro P art 659S eeds ducer who signs a purchase agreement R alph S. T rico, S
ubpart 1949
H ay and P asture G rass Commodity Purchase Form 1 will not President, S eed P urchase A greement P rogram be obligated to deliver any soybeans to Commodity Credit Corporation.
CCC. However, the quantity stated in 1 9 4 9 CROP HA Y AND PASTURE GRASS SEES
P. R. Doc. 49-10368; Piled, Dec. 22, .1949;
the purchase agreement will be the max PRICE SUPPORT PROGRAM
8:47 a. m.
imum quantity he may deliver to CCC.
The regulations issued by Commodity If the producer who signs a purchase agreement wishes to sell soybeans to Credit Corporation and the Production CCC, he will have a 30-day period ending and Marketing Administration as Sup 1949 C. C. C. Soybean Bulletin 1, Arndt. 2
May 31, 1950, during which he must plement 1 to the 1949 Hay and Pasture P art 643O ilseeds notify the county committee of his in Grass Seed program published in 14 F. R.
tention to sell, or on such earlier date as 5957, are hereby amended as follows:
SUBPART 1 9 4 9 SOYBEAN LOAN AND
Paragraph b of 8 659.91 Packaging may be prescribed in any amendment or PURCHASE AGREEMENT PROGRAM
supplement to this bulletin.
is amended so that the section reads as The regulations issued by the Com the case of eligible soybeans stored follows:
modity Credit Corporation with respect in In an approved warehouse, the producer 659.91 Packaging. When delivered to the 1949 Soybean Loan and Purchase must not later than the day following to CCC the seed shall be packaged in Agreement Program 14 F. R. 3973 are the final date of such 30-day period, or amended by adding a paragraph at the during such period of time thereafter as even-weight, net capacity, new bags of end of paragraph a, Loans, of 643.159, be specified by CCC, submit to the approved quality as described below :
Maturity and satisfaction, so that the may a Alfalfa, alsike, ladino certified, county committee warehouse receipts section reads as follows:
under which the warehouseman guaran red, sweet, Hubam sweet, and white clo 643.159 Maturity and satisfaction tees quality and quantity of the soybeans ver, common or Tenn. 76, Kobe, and a Loans. Loans mature on demand the producer elects to sell to CCC, but sericea lespedeza, orchard grass certi but not later than May 31, 1950. In the not in excess of the number of bushels fied, timothy certified, weeping and case of farm storage loans, the producer shown on Commodity Purchase Form 1. sand lovegrass and switchgrass:
is required to pay off his loan on or be In the case of eligible soybeans stored in Type Net capacity fore maturity, or to deliver the mort other than approved warehouse storage, 1 Tri-Sax double seam :
pounds gaged soybeans in accordance with the county committee will on or after 36-inch 7.5 oz. or heavier_______ 100 or 60
instructions of the county committee. June 1, 1950, issue delivery instructions 40-inch 8.25 oz. or heavier______ 100 or 60
Credit will be given at the applicable loan to the producer. The producer must 2 Osnaburg seamless or double seam :
value, according to grade and/or quality, then complete delivery within a 15-day 7-ounce or heavier_____ 100 or 60
for the total quantity delivered, provided period immediately following the date 380-inch Seamless cotton 16-ounce___ _ 150
it was stored in the bins in which the the county committee issues delivery in soybeans under loan were stored.
structions, unless the county committee b Tall meadow fescue certified, If the settlement value of the soybeans determines that more time is needed for smooth brome certified, Sudan certi delivered under a farm storage loan ex delivery.
fied, and crested, slender, and western
than approved warehouse storage, the county committee will on or after Feb ruary 1, 1950, in the States of Arizona, California and Texas, or on or after May 1,1950, in all other States, issue delivery instructions to the producer. The pro ducer must then complete delivery with in a 15-day period immediately following the date the county committee issues delivery instructions, unless the county committee determines that more time is needed for delivery.
Flaxseed delivered under a purchase agreement will be purchased at the ap plicable loan rate for the approved point of delivery. When delivery is completed, payment will be made by a sight draft drawn on CCC by the State PMA office on the basis of Commodity Purchase Form 4. The producer shall direct on such form to whom payment of the pur chase price shall be made.
Eligible flaxseed will be purchased on the basis of the weight, grade, and other quality factors shown on the warehouse receipts and/or accompanying docu ments; or if such flaxseed is delivered to a CCC storage facility, on the basis of the weight, grade, and other quality factors, determined by the county committee in accordance with instructions for the de termination of such factors under the loan program, and agreed to by the pro ducer at the time of delivery.
Secs. 4 d, 5 a, Pub. Law 806, 80th Cong,; secs. 1 b, 202 a, Pub. Law 897, 80th Cong.
Issued this 13th day of December 1949.